GCM Grosvenor Inc. - GCMG STOCK NEWS

Ethos Real Estate has successfully acquired the Residences at Woodlake for $76 million. This 276-unit multifamily property in the Crenshaw District, Los Angeles, will be transformed from market rate to deed restricted affordable housing. Under the plan, 50% of the units will be reserved for families earning up to 80% of AMI, while 10% will target those earning up to 60% of AMI for the next 55 years. This deal marks Ethos' second purchase with GCM Grosvenor, which manages approximately $73 billion in assets.

GCM Grosvenor (Nasdaq: GCMG) has launched the GCM Grosvenor Elevate strategy aimed at making seed investments in small, emerging, and diverse private equity firm founders. With a partnership commitment of $500 million from CalPERS, the Elevate strategy focuses on reducing entry barriers for investor entrepreneurs and providing essential support resources. GCM Grosvenor manages approximately $17.5 billion with small managers and $13.6 billion with diverse managers. The strategy aims to capture attractive returns by investing in historically high-performing diverse managers, as highlighted by a recent NAIC study.

Caliche Development Partners II, in partnership with Orion Infrastructure Capital and GCM Grosvenor, announced the acquisition of Golden Triangle Storage and plans for Central Valley Gas Storage. This $186 million investment aims to enhance underground storage capabilities in North America, supporting the transition to lower-carbon energy solutions. The Golden Triangle Storage deal closed on November 18, 2022, with the Central Valley acquisition pending regulatory approval in 2023. The partnership underscores the growing demand for natural gas storage amidst increasing reliance on renewable energy sources.

GCM Grosvenor (Nasdaq: GCMG) reported Q3 2022 results with a 16% revenue increase year-over-year, totaling $137.2 million. Assets Under Management rose to $72.6 billion, a 3% increase from the prior year. Fee-Related Revenue increased by 2% to $88.6 million. The firm declared a $0.11 dividend and intensified its share repurchase program by $25 million to $90 million. Despite a 24% decrease in GAAP Net Income to $3.1 million, Adjusted Net Income grew 11% to $26.6 million. Management remains optimistic due to strong fundraising and private market growth.

GCM Grosvenor (Nasdaq: GCMG) will announce its third quarter 2022 results on November 9, 2022. A conference call and webcast will take place at 10:00 a.m. ET on the same day, allowing stakeholders to discuss the financial results and receive a business update. The firm, which manages approximately $71 billion in assets across various investment strategies, has been in the alternative asset management sector for over 50 years. A replay of the call will be available on their website shortly after the event.

KKR has made a significant structured investment in Arevia Power, a U.S. renewable energy developer, with backing from GCM Grosvenor. This investment aims to accelerate the development of new solar and wind projects across the U.S. Arevia, founded in 2015, is advancing a multi-gigawatt renewable portfolio and implements a Responsible Contractor Policy to promote a skilled workforce. KKR has allocated over $15 billion to renewables since 2011, targeting projects that support environmental sustainability and comply with renewable standards.

GCM Grosvenor (GCMG) reported its Q2 2022 results, showcasing a 6% increase in Assets Under Management (AUM), totaling $71.2 billion. Fee-Paying AUM rose by 4% year-over-year to $57.5 billion. Private Markets FPAUM saw a notable 16% increase, while Absolute Return Strategies FPAUM dropped by 9%. Revenue declined by 13% to $104.4 million, yet Fee-Related Revenue increased by 8%. Notably, GAAP Net Income soared 1,059% to $7.6 million. The company also announced a $0.10 dividend per share and repurchased $10 million in stock during the quarter.

GCM Grosvenor (Nasdaq: GCMG) has announced the upcoming release of its second-quarter 2022 results on August 9, 2022. Management will host a conference call and webcast at 10:00 a.m. ET on the same day for discussing the results and providing a business update. GCM Grosvenor oversees approximately $71 billion in assets across multiple investment strategies such as private equity and real estate, emphasizing over 50 years of experience in alternative asset management.

Newlight Technologies and Long Ridge Energy Terminal have signed agreements to construct the Aircarbon-Ohio facility in Ohio, aimed at producing Aircarbon, a carbon-negative biomaterial that can replace plastic. Long Ridge will lease land and supply power for the project, with Fortress Transportation (FTAI) investing up to $75 million for a 25% stake. The facility will utilize methane captured from local industrial activities to support production. This initiative seeks to tackle plastic pollution and create jobs, establishing a significant carbon capture hub.